Commercial in Confidence Copyright Corporate Manoeuvres Consulting Pty Ltd 2002www.manoeuvres.com.au
Economic Girl Power
A market to be reckoned with
Women now represent the majority in population and consumer purchasing power – they arenot only buyers but influencers. Current purchasing yields reflect current advertising andmarketing approaches. These approaches largely contain messages, couched in themes,and carried by vehicles that are targeted to men. Organisations that target and maximisewomens’ true role in purchasing will have a commercial advantage over competitors.As women migrate to the more senior (and demanding) roles within the workforce, or indeedhead up their own small business, demand on their time is increasing.Women are responding by integrating other purchases with grocery purchases. Givenwomen are responsible for 75% of grocery purchases, the organisations that recognise andharness this trend will have a commercial advantage over competitors.For example, sales language and environments that are perceived as ‘technology’ or maledominated, are deterring large numbers of women from purchasing. Yet studies indicate thatyoung women will become the backbone of e-commerce in the years to come – and 'e-tailers' who market effectively to women now, are likely to realise long-term future gains.Financial services businesses are testament to this experiencing growth when marketingthemselves as female-friendly.And women have put ‘knowledge on notice’ – female school leavers are now more highlyqualified than male and in some regions, women’s higher education enrolment now equals or surpasses that of men. The third of small business, which is currently operated by women, istherefore likely to have its ranks swelled.Organisations wanting to ‘read the landscape’, ‘stay ahead of the pack’, ‘ride the wave’ wouldbe wise to tailor communications to a new force in consumer power - women.